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17/02/2014 09:49 AST
We would like to announce that the Board of Oman United Insurance Company held a meeting on Sunday- Yesterday evening 16th February 2014, and approved the audited financial statements for the period ended 31/12/2013. Hereinafter the most important Board decisions:
Firststly. Approval of Audited Financial Statements as at 31st December 2013.
Secondly: Dividends
The Board recommends to distribute cash dividends of 35% of the paid up capital i.e. (35 Bzs.) per share. The recommendation has been put forward to the AGM of the company scheduled on 30/3/2014.
· Note: As per insurance Companies' law, an amount of RO. 1,197,232 /- (2012 - RO. 997,071) has been provided for contingency reserve from net profit. The said reserve is a part of the shareholders' equity . Now the accumulated contingency reserve stands at RO. 6,896,596/- as at 31st December 2013. The company shall continue reserving for contingency reserve till equalize the company's paid up capital.
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22/02/2015
Oman United Insurance board has recommended cash dividends of 22 per cent (22 baisas per share) to the shareholders, subject to approval at its annual general meeting scheduled for March 30.
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Oman United Insurance Company SAOG would like to announce that, Shareholders of the Company, at the Annual General Meeting held on 30th March 2014, have approved distribution of cash dividend of 35%
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